UPS starts moves to acquire TNT Express

Once completed, the deal will see the birth of a world logistics industry leader

logistics industry TNT Express UPS world leader

US major United Parcel Service (UPS) has launched its $6.6 billion cash bid for TNT Express in its bid to expand its presence in Europe’s package delivery market. If the biggest acquisition in the US company’s 105-year history is passed by European Union regulators – while UPS has sought the support of at least 80 per cent of shareholders in TNT Express, TNT will hold an extraordinary shareholders meeting on 6 August to inform investors about the deal – it will create a world leader in the logistics industry with more than $60 billion in annual revenue and an enhanced, integrated global network.